WorkSafe announces half-year results

The state’s workers’ compensation scheme remains financially sound, and fewer people are being injured at work, according to the mid-year report card released today by WorkSafe.

In the six months from July to December 2017, the number of injury claims per million hours worked fell 1.9 per cent to 6.16.

Over the same period, WorkSafe recorded a net result of $516.8 million. This was primarily due to strong investment returns and favourable changes in economic assumptions.

WorkSafe’s half year performance from insurance operations (PFIO) was $9.6 million. This was impacted by a rise in the projected future cost of claims, which resulted in the need for an extra $100 million to be set aside for these costs.